Bitcoin surged to $87,470, its highest level since March 7, as positive sentiment rippled through the market.
Bitcoin jumped at the start of the week as investors cheered reports suggesting US President Donald Trump may take a more measured approach to implementing new trade tariffs on April 2.
According to investing.com data, the world’s largest cryptocurrency advanced $87,127.50 on Monday morning.
The crypto markets have posted their second consecutive positive week following the Federal Reserve’s latest meeting, which left interest rates unchanged and maintained its forecast for two rate cuts in 2025. Bitcoin surged to $87,470, its highest level since March 7, as positive sentiment rippled through the market.
The Federal Reserve’s decision to reduce the pace of balance sheet shrinkage starting next month, despite ongoing uncertainty surrounding tariffs, has contributed to this bullish movement in crypto assets. Bitcoin’s recent rally suggests that the market may have already seen the bottom at $76,600 and could be on the cusp of a new upward trend.
“Bitcoin’s performance is reflecting the optimism surrounding the Fed’s stance and a broader recovery in the market,” said Simon Peters, crypto market analyst at eToro. “If this momentum continues, supported by upcoming inflation data, we may see further upward movement in Bitcoin and other major crypto assets.”
This week, attention will turn to the release of the US PCE Personal Consumption Expenditures data, with expectations that it could provide an additional boost to Bitcoin and wider crypto assets, particularly after earlier CPI data came in lower than forecast.
XRP experienced a sharp price increase following the announcement by Ripple CEO Brad Garlinghouse that the SEC’s case against Ripple had officially concluded. The token spiked 11 per cent on the news, moving up by 26 cents.
$ORCA, the native token of Solana-based decentralised exchange Orca, surged by 280 per cent after being listed on South Korea’s Upbit exchange. The price shot up from $1.50 to $6 in just a few hours before pulling back slightly.
In a strategic move to further accelerate Bitcoin adoption in Japan, Japanese company Metaplanet has appointed Eric Trump to its newly formed Strategic Board of Advisors. This announcement led to a 17 per cent surge in Metaplanet’s share price, reinforcing the company’s position as a global leader in the Bitcoin economy. Metaplanet currently holds around 3,200 Bitcoin, valued at approximately $269 million.
In a conversation with Bloomberg, Ripple CEO Brad Garlinghouse expressed optimism regarding the approval of a spot XRP ETF by the end of 2025. Following the resolution of Ripple’s legal case with the SEC, Garlinghouse highlighted shifting attitudes within US financial institutions towards crypto, particularly in the areas of asset custody and digital payments.
Despite renewed ETF-driven momentum analysts remain cautious about the market’s ability to sustain a breakout. The upcoming tariff hikes, set to take effect on April 2nd, could put renewed pressure on risk assets, potentially reversing crypto’s recent gains. Meanwhile, the options market reflects a neutral stance, with implied volatility trending lower and risk reversals flattening across all maturities — a notable shift from the bearish sentiment seen just a week ago, analysts said.
Despite hitting an all-time high of $109,000, Bitcoin price is on track to end this quarter as the worst ever since 2020, barring any last-minute rally. Notably, Bitcoin price has exhibited the highest volatility seen in 6 months, explaining how it could showcase a negative growth trend despite the quarter coming off as its best since its launch. For some reason, Bitcoin acted directly opposite to President Donald Trump’s intention in the first quarter of his first and second tenures.
In Q1 2017, Bitcoin recorded an 11.89 per cent growth when the President was either a BTC skeptic or unconcerned about it. This time around, with massive support for the industry, the coin moved in the opposite direction, down 7.1 per cent thus far this quarter. The negative growth of the coin stems from the uncertainties surrounding inflation, compounded by the trade wars between the US and regions like Canada, China, and the EU The March 19 rate decision, which comes at the conclusion of the Fed’s two-day monetary policy meeting, shows that central bankers are waiting for evidence that inflation is headed toward their 2 per cent target before shifting course. Despite the uncertainty in the Fed’s direction moving forward, Bitcoin’s price has reclaimed the $87,000 mark, with a decisive 3.59 per cent growth in 24 hours. “If the coin continues on this path, there is a possibility it may trim the quarterly loss in the remaining seven days of this month. Looking forward, Bitcoin has a historic 26 per cent growth in Q2, and after most of Q1 ended in consolidation, it is possible BTC price might continue its volatility in the coming quarters,” said Fakhul Miah, Director of institutional-grade Bitcoin mining solution GoMining Institutional.
